The quickest solution to slow piracy (not to stop it) is to provide demos for PC gamers. Gamers don't want to plunk down 50 dollars to buy a game that sucks. Console gamers can rent a game but a PC gamer usually can't. In this case, serial keys end up hurting, not helping (but in the long run they help).
The lack of demos or ability to rent PC games leads many to pirate.
P.S. I probably don't need to say it but most pirates are also avid gamers who spend more than the average person on a video game collection. As a programmer, I know piracy hurts the industry but it will not be stopped by making it illegal. Rather the system needs to change to make gamers not want to pirate.
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